Message from the Chairman

Happy New Year to all our Stakeholders! As the Chairman of the Board, I am pleased to report to you that once again, our Bank made it to the Top 100 Rural Banks in terms of Total Assets. Rural Bank of Bayombong, Inc., is currently at No. 80 with a Total Resources of 476.90M as of September 30, 2016. This is according to the latest report of the Bangko Sentral ng Pilipinas and can be viewed on its website This is one clear indication of our stable banking conditions.

Several policies were formulated by Top Management and approved by the Board in order to align the Lending and Deposit practices of the Bank with those Circulars promulgated by the Bangko Sentral ng Pilipinas from time to time. The Compliance Officer is tasked to ensure that the Bank complies with the mandates set forth in the Manual of Regulations for Banks by the BSP, SEC, PDIC, and other regulatory agencies. The Internal Audit Department, on the other hand, is the one that performs unannounced audits at the Head Office and all the eight (8) Branches. Meanwhile, the External Auditor of the Bank, Nepomuceno, Suner and Associates checks and balances the Annual Performance of the Bank.

Banking is never easy. In fact, it keeps getting harder as time passes by because of the bulk if Circulars published from time to time. This cannot by changed. What we just do is to adapt to live to our tagline attached to our name, “Rural Bank of Bayombong Inc., The First Bank in Nueva Viscaya and the Oldest Rural Bank in Cagayan Valley”.

With very stiff competitions from everywhere, Top Management has been finding ways to boost the Performance of the Bank. Anniversary Motorcade Campaign was held on the early part of the year and Regular House to House Campaign are continuously done by the Bank Managers and Inspectors. New Loan Products were introduced to the public that as of this time has already gained some following and repayment is highly satisfactory. The 5 years Golden Savings Deposit has been re-launched this year. This helped in the Deposit Generation of the Bank.

Assets Acquired most especially its consolidation in the name of the Bank takes up a large part in the expenses for the year. The reason being the new requirements imposed for transfer which become a burden on the part of the Bank to produce. When completed are based from the date of award of the Sheriffs Certificate of Sale.

Income is higher compared to previous year 2015. This can be attributed to the Sale of Assets Acquired. This could have been so much higher if expenses on penalties in the consolidation were avoided.

Human Resource has been a challenge because of the many job openings from the government. Employee turnover rate is so fast that it becomes already a burden on the part of the Bank to train employees who are not sure serving the Institution for a long time.

RBBI, in its share of Corporate Responsibility, has supported several outreach projects for the community. The Balik Eskwela, AKLAT Pamaskong Handog, Pasko para sa Kabataan cum Medical-Dental Mission, Labbu-Lingay Annual Outreach, Lumad Education Project Campaign of the Department of Environment and Natural Resources. Savings Awareness Campaign was also done to teach the community the value of saving for the future.

This year 2017, as the Bank approaches its 56th year, different Loan Products are again introduced: SAKTO and PANGRAP LOANS. This aims to be of help to uplift the lives of the many people to which Rural Bank of Bayombong, Inc. operates, particularly in the Provinces of Nueva Viscaya, Isabela and Quirino.

In this state of uncertainty and vulnerability of the Banking Industry, let us stand tall and be proud that our Bank and its firmly rooted on the ground. Rural Bank of Bayombong, Inc. will continue its Mission and Vision to serve the People of Cagayan Valley in its best ability and only through safe and sound banking practices no less.

Thank you for your continued trust and patronage. Maraming Salamat po!

Rachelle Ramos Foronda
Chairman of the Board